How we bought two homes

The first time we were renting a place in Grifton, NC and my wife gets the opportunity to take a management position for DHL at the RDU airport location. So we loaded up the truck and moved to Beverly.(Some may not get this joke) Well, maybe not quite like that but we had considered moving closer to her new job. Once she started working by the airport, it was taking a huge tole on her body so she began to get a hotel during the week and would come home on the weekends. As you may know, this can be tough on a marriage as well. 

We then started looking for homes for sale and found a home that was having an open house and though we were not interested in the particular home they were representing, we decided to use the realtor who was conducting the open house to help us in our search and they became our realtor. 

She began sending us homes that fit into our criteria and we began replying to her with "yes let's view it the next weekend" or "no we are not interested". Due to the circumstances, it did take more than a couple weeks to find the home we wanted. As you may know, this was the easy part and the painful getting all of our proverbial "ducks in a row" shall begin. I now call it "painting the mortgage broker a perfect picture". This is the part where you show you have to show the following:

1) A steady W-2 income job.( Business owners must have 2 years of solid tax returns to be considered fit to be a home owner)

2) A satisfactory Debt to Income ratio (This varies from bank to bank but typically 45% is an average number)

3) Your FICO credit score must be at a minimum of 580 for a FHA loan with a 3.5% down payment, and 640 for a USDA loan you are not required to have a down payment. 

4) Anything else the underwriter deems as important. (Explanation of why you want this house, why should they ignore an outstanding medical bill, etc.)

Long story short, we were able to purchase the home about 30 to 45 days of making an offer. 

About 7 years later, it was my turn to be the reason for moving. My company moved another 8 miles from their current location which increased my drive by 16 miles round trip, not to mention the additional track jams, and the state deciding to rip up 14 of the 30+ miles to lay a brand new highway back down on the same stretch of land. This influenced us to move to Durham NC so we could avoid the interstate all together. Guess who got the chance to paint that picture? This guy. lol  

Anyway, as you can see, our reasons for moving were different each time and I'm sure it will be if we move again, it will be a different reason. 

Now back to the "opportunity" that you deserve. If you would like an "opportunity" to own a home but have not because you either have less than stellar credit, own a business without 2 years of tax returns, or maybe you just took a new job and do not have enough of a job history to satisfy an underwriter. Whatever the reason is you can still own a home by getting a fixer upper, put in some sweat equity,  and having the opportunity to "pre-own" a home. 

If you think it is time to stop renting and starting building equity into your own home Click here to fill out an application to begin your journey to being a home owner today!!